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MRG METALS LIMITED — Capital/Financing Update 2017
Dec 18, 2017
65374_rns_2017-12-18_71908c6e-6b8e-4742-b477-ec7ad4943421.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
19 December 2017
MRG METALS LIMITED
NON-RENOUNCEABLE ENTITLEMENT OFFER – LETTER TO SHAREHOLDERS
MRG Metals Limited ( Company ) releases the attached letter regarding the non-renounceable entitlement offer, which will be sent to shareholders of the Company.
Yours faithfully,
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SHANE TURNER Director/Secretary
MRG Metals Limited ABN: 83 148 938 532 / ASX Code: MRQ Phone: +61 3 5330 5800 / Fax: +61 3 5330 5890
12 Anderson Street West, Ballarat VIC 3350 / PO Box 237 Ballarat VIC 3353 www.mrgmetals.com.au / [email protected]
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19 December 2017
[Name] [Address 1] [Address 2] [Address 3]
Dear Shareholder
Notification of non-renounceable entitlement issue
On 13 December 2017, MRG Metals Limited ( Company ) announced a non-renounceable entitlement issue ( Entitlement Offer ). An offer document setting out the terms and conditions of the Entitlement Offer was lodged with ASX Limited ( ASX ) on 19 December 2017 ( Offer Document ) and will be sent to all eligible Shareholders together with a personalised Entitlement and Acceptance Form on 29 December 2017.
This letter gives Shareholders brief details of the Entitlement Offer, certain information required under the ASX Listing Rules, proposed use of funds and the important dates of the Entitlement Offer. The Entitlement Offer is non-renounceable which means that rights cannot be traded or sold.
The Entitlement Offer is only open to eligible shareholders, being Shareholders whose registered address is in Australia or New Zealand at 7.00pm AEDT on 2 December 2017.
The Company has determined that it would be unreasonable to make offers under the Entitlement Offer to all Shareholders with addresses outside of Australia or New Zealand ( Ineligible Shareholders ) having regard to the Company's current shareholding and the costs of complying with legal and regulatory requirements in those jurisdictions. Accordingly, the Entitlement Offer is not being extended to Ineligible Shareholders. Any entitlements to such shares with attaching options will lapse and the relevant shares with attaching options will form part of the shortfall under the Entitlement Offer. This letter constitutes the notice that the Company is required to give each Ineligible Shareholder under ASX Listing Rule 7.7.1(b).
Funds raised under the Entitlement Offer may be used to pay the costs of the issue, to progress the exploration program of the Company's projects, for working capital requirements and to pursue new opportunities.
MRG Metals Limited ABN: 83 148 938 532 / ASX Code: MRQ Phone: +61 3 5330 5800 / Fax: +61 3 5330 5890
12 Anderson Street West, Ballarat VIC 3350 / PO Box 237 Ballarat VIC 3353 www.mrgmetals.com.au / [email protected]
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Details of the Entitlement Offer are as follows:
| Type of issue | Pro-rata non-renounceable entitlement issue of fully paid ordinary |
|---|---|
| shares (Shares) of 1 Share for every 2 Shares held, with 1 attaching | |
| Option for each Share allotted pursuant to the Entitlement Offer, | |
| exercisable at $0.01, with expiry date of 20 December 2020 | |
| Issue price | $0.005 (0.5 cent) per Share. |
| Maximum Number of | Up to 200,389,880 Shares. |
| shares to be issued | |
| Maximum Number of | Up to 200,389,880 Options, |
| options to be issued | |
| Amount to be raised | Up to $1,001,949. |
| Rights trading | Rights cannot be traded or sold. |
| Additional Shares | The directors of the Company reserve the right to place the Shortfall |
| and shortfall | Shares with attaching Shortfall Options at their absolute discretion. |
| Listing | The Company has applied to ASX for quotation of the Shares and |
| attaching Options. |
| Key indicative dates* | |
|---|---|
| Announcement of Offer | 13 December 2017 |
| Lodgement of cleansing notice, Offer Document and | 19 December 2017 |
| Appendix 3B with ASX | |
| Notice sent to shareholders | 21 December 2017 |
| Ex Date | 22 December 2017 |
| Record Date for determining entitlements | 7pm AEDT on 27 December |
| 2017 | |
| Offer Document despatched to eligible shareholders and | 29 December 2017 |
| Company announces despatch has been completed | |
| Rights Issue Offer opens for receipt of applications | 29 December 2017 |
| Closing Date | 5pm AEDT on 18 January |
| 2018 | |
| Securities quoted on a deferred settlement basis | 19 January 2018 |
| ASX notified of under subscriptions | 23 January 2018 |
| Issue date | 25 January 2018 |
| Despatch date of Holding statements | 25 January 2018 |
| Trading commences for New Shares on a normal basis | 25 January 2018 |
*The above timetable is indicative only and subject to change. Subject to the ASX Listing Rules, the directors of the Company reserve the right to vary these dates, including the Closing Date, without notice. The directors may extend the period of the Entitlement Offer or bring forward the Closing Date at their discretion.
MRG Metals Limited ABN: 83 148 938 532 / ASX Code: MRQ Phone: +61 3 5330 5800 / Fax: +61 3 5330 5890
12 Anderson Street West, Ballarat VIC 3350 / PO Box 237 Ballarat VIC 3353 www.mrgmetals.com.au / [email protected]
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Full details of the terms and conditions of the Entitlement Offer are contained in the Offer Document which is available on the ASX website http://www.asx.com.au/ by searching under the ASX Code "MRQ."
Yours faithfully
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SHANE TURNER Director/Secretary
MRG Metals Limited ABN: 83 148 938 532 / ASX Code: MRQ Phone: +61 3 5330 5800 / Fax: +61 3 5330 5890
12 Anderson Street West, Ballarat VIC 3350 / PO Box 237 Ballarat VIC 3353 www.mrgmetals.com.au / [email protected]